Town Pension and OPEB Trusts Oversight Committee

TOWN OF LOS GATOS TOWN PENSION AND OPEB TRUSTS OVERSIGHT COMMITTEE AGENDA JUNE 04, 2024 110 EAST MAIN STREET AND TELECONFERENCE TOWN COUNCIL CHAMBERS 6:15 PM Mary Badame, Mayor Matthew Hudes, Vice Mayor Rob Moore, Council Member Rob Rennie, Council Member Maria Ristow, Council Member IMPORTANT NOTICE This is a hybrid meeting and will be held in-person at the Town Council Chambers at 110 E. Main Street and virtually through Zoom Webinar (log-in information provided below). Members of the public may provide public comments for agenda items in-person or virtually through the Zoom Webinar by following the instructions listed below. The live stream of the meeting may be viewed on television and/or online at www.LosGatosCA.gov/TownYouTube. This meeting will be teleconferenced pursuant to Government Code Section 54953(b)(3). Vice Mayor Hudes will be participating from a teleconference location at 111 Harbor Drive, San Diego, CA 92101. The teleconference location shall be accessible to the public and the agenda will be posted at the teleconference location 72 hours before the meeting. HOW TO PARTICIPATE The public is welcome to provide oral comments in real-time during the meeting in three ways: Zoom Webinar (Online): Join from a PC, Mac, iPad, iPhone or Android device. Please click this URL to join: https://losgatosca-gov.zoom.us/j/87041977797?pwd=rB4tBkWN- 0cTKG7zNULsqfsgFMgsnQ.foRwTVwYFwidmV1l Passcode: 800213 You can also type in 870 4197 7797 in the “Join a Meeting” page on the Zoom website at and use passcode 800213. When the Mayor announces the item for which you wish to speak, click the “raise hand” feature in Zoom. If you are participating by phone on the Zoom app, press *9 on your telephone keypad to raise your hand. Telephone: Please dial (877) 336-1839 for US Toll-free or (636) 651-0008 for US Toll. (Conference code: 686100) If you are participating by calling in, press #2 on your telephone keypad to raise your hand. In-Person: Please complete a “speaker’s card” located on the back of the chamber benches and return it to the Town Clerk before the meeting or when the Mayor announces the item for which you wish to speak. NOTES: (1) Comments will be limited to three (3) minutes or less at the Mayor’s discretion. (2) If you are unable to participate in real-time, you may email to Clerk@losgatosca.gov the subject line “Public Comment Item #__ ” (insert the item number relevant to your comment). All comments received will become part of the record. (3) Deadlines to submit public comments are: 11:00 a.m. the Thursday before the Committee meeting for inclusion in the agenda packet. 11:00 a.m. the Monday before the Committee meeting for inclusion in an addendum. 11:00 a.m. on the day of the Committee meeting for inclusion in a desk item. (4) Persons wishing to make an audio/visual presentation must submit the presentation electronically to Clerk@losgatosca.gov no later than 3:00 p.m. on the day of the Committee meeting. Page 1 CALL MEETING TO ORDER ROLL CALL APPROVE REMOTE PARTICIPATION (This item is listed on the agenda in the event there is an emergency circumstance requiring a Committee Member to participate remotely under AB 2449 (Government Code 54953)). CONSENT ITEMS (Items appearing on the Consent Items are considered routine Town business and may be approved by one motion. Any member of the Committee may request to have an item removed from the Consent Items for comment and action. Members of the public may provide input on any or multiple Consent Item(s) when the Mayor asks for public comments on the Consent Items. If you wish to comment, please follow the Participation Instructions contained on Page 1 of this agenda. If an item is removed, the Mayor has the sole discretion to determine when the item will be heard.) 1. Approve Minutes of the March 5, 2024 Town Pension and OPEB Oversight Trusts Committee Meeting. 2. Receive the California Employer’s Pension Prefunding Trust (CEPPT) Strategy 2 Market Value Summary Report for the Period Ending March 31, 2024 and Performance as of April 3, 2024. 3. Receive the California Employer’s Retiree Benefit Trust (CERBT) Strategy 1 Market Value Summary Report for the Period Ending March 31, 2024 and the Performance Report as of April 30, 2024. VERBAL COMMUNICATIONS (Members of the public are welcome to address the Committee only on matters listed on the agenda. To ensure all agenda items are heard, this portion of the agenda is limited to 30 minutes. Each speaker is limited to no more than three (3) minutes or such time as authorized by the Mayor.) OTHER BUSINESS (Up to three minutes may be allotted to each speaker on any of the following items.) 4. Receive Actuarial Presentation on CalPERS Analysis – 6/30/2022 Valuation Report by Foster & Foster Actuaries and Consultants and Identify Amortization Bases for Future Potential Additional Discretionary Payments (ADPs). ADJOURNMENT ADA NOTICE In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact the Clerk’s Office at (408) 354- 6834. Notification at least two (2) business days prior to the meeting date will enable the Town to make reasonable arrangements to ensure accessibility to this meeting. [28 CFR §35.102-35.104] Page 2